All Forum Posts by: Tom Matheu

Thanks for the info. Yes, they extended it once. It runs until June I think. 

Typically, are there different agent percentage breakdowns for different scenarios of who is involved?

ex:

Sellers Agent + Buyers Agent = 6% (3% for each)

Seller Agent finds buyer (without a buyers Agent) = 5%

Owner finds Buyer, not Sellers Agent and there is no Buyers Agent = ?? %

I am in the market to buy a home in New York. This one would be as my primary residence.

Through friends, I met someone who is selling a home, but it is currently off the market due to the pandemic. 

They do have a contract with their sellers agent currently, for another month. 

As a buyer I am not currently working with a buyers agent. 

If I decide I want to buy this home (with all the requisite inspections and buyer beware best practices) , what is fair to pay the sellers agent? 

I feel it is unfair to try to cut them out of the deal, (by running out the clock) however, as far as my discovering this home and the seller, they have not been a part of that process. 

Please don't flame me for what could seem as a run around fair practices, that is why I am asking, I am not sure what is fair and customary. 

Thanks!

How would one estimate what the new value of a renovated / new house after it has been flipped, or torn down and rebuilt?

Let's say you buy a 1500 sq ft home on a big half acre lot in a desirable area, tear it down, and expand it to 4000 sq ft.

Would you go by sold houses price per square foot in the same area?

That seems like apples & oranges since sold comp sales may be significantly older and less desirable. 

Thanks Jay, that answers my question. 

I am looking to estimate what a SFR (new construction) might go for in an area.

I can certainly crunch the #'s based on sold prices. 

I realize thats apples & oranges with dated SFR's, but I think would give some insight.

Thanks Aaron. I can find this data per property on the sites you list, but not for an area. 

Can you advise?

Apologies for the newbie question.

Where can I find data for avg selling price per square foot in an area?

Perhaps there something as slick as a heat map?

If this is region specific, I am looking at Suffolk country NY, Riverhead area. 

Thanks!